Petrosearch Signs Partnership Agreement on Barnett Shale Properties

HOUSTON, TX – December 18, 2006 - Petrosearch Energy Corporation (OTCBB:PTSG) announced today that its wholly owned subsidiary, Barnett Petrosearch LLC (“Petrosearch”), has joined in the formation of a Partnership, DDJET Limited LLP, (“Partnership”) for the development of Barnett Shale properties in the Fort Worth Basin, Texas. Petrosearch owns a 5.54% interest in the Partnership along with partners Metroplex Barnett Shale LLC (a wholly owned subsidiary of Exxon Mobil Corporation), which will direct operations, and Cinco County Barnett Shale LLC, (a privately held Fort Worth-based company).

The Partnership’s assets include all leases acquired to date within an eight-county contract area, under a previous agreement among affiliates of the three partners, along with associated facilities including nearly 100 miles of pipeline and an option on a separate pipeline right of way.

Production from the six wells drilled thus far is expected to commence in early 2007.

Commenting on the Partnership Agreement, Richard Dole, Petrosearch’s Chief Executive Officer stated, “We are pleased to have completed this important agreement. Given the contribution of both the upstream and downstream assets by all of the partners, we are confident that the overall economics of our new ownership interest is strong. We look forward to a long-term relationship with our partners to develop this significant resource base.”